About a-team Marketing Services
The knowledge platform for the financial technology industry

A-Team Insight Blogs

EDM Council Launches Cloud Data Management Work Group

Subscribe to our newsletter

Data management trade association the EDM Council this week launched the Cloud Data Management Capabilities (CDMC) Best Practices Work Group, with participation from players including Amazon Web Services (AWS), Google Cloud, IBM Cloud, and Microsoft Azure, as well as over 20 prominent financial industry firms. Co-chaired by Morgan Stanley and Refinitiv, project management is provided by Capco.

Cloud implementations typically face a common series of complex data, technology, operational and control challenges; while the industry also still lacks a common end-to-end cloud data management best practice framework. The group is therefore tasked with developing an open source CDMC Best Practice Framework to accelerate Cloud adoption and automate the associated controls. The framework will be based upon the EDM Council’s Data Management Capability Assessment Model (DCAM), a formal framework used to assess a firm’s data management capabilities through a consistent scoring model that has already been adopted by 60% of financial organizations globally that use data management frameworks.

“We’re experiencing a transformational moment in data management. Industry is rapidly evolving the need to securely access and extract value from exponential volumes of data via the Cloud,” says John Bottega, President, EDM Council. “It’s imperative that firms implement data management best practices in their cloud strategies.”

While the initiative is currently focused on the financial services sector, it will expand cross-industry to help firms in multiple verticals to navigate the growing complexity of cloud adoption. Data security and privacy rules have become an even greater focus worldwide as the COVID-19 pandemic has forced firms to work remotely and reassess business strategies. This has increased cost and margin pressures, driving companies to accelerate cloud adoption and leverage new data management practices.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: The Data Office at a Crossroads — AI Governance, Organisational Design, and the Evolving Mandate of the CDO

Who owns AI governance in a capital markets firm – and is the Data Office structured to bear that weight? These questions sit at the heart of A-Team Research’s latest findings, presented here for the first time: the combined results of two landmark surveys examining the role of the Data Office in AI governance and...

BLOG

EU AI Act Puts AI’s Underlying Data Problems In The Spotlight

By Sarva Srinivasan, Global Head of Strategies at NeoXam Americas Another important part of the EU AI Act has come into play – with Article 50 introducing transparency obligations for certain AI systems, requiring organisations to disclose when users are interacting with AI. Now much of the discussion around these requirements has tended to focus...

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook 2026 – Fourteenth Edition

Welcome to the fourteenth edition of A-Team Group’s Regulatory Data Handbook. Supervisors increasingly expect firms to demonstrate which rules apply, which data supports each obligation, who owns the control and how exceptions are identified and resolved. Policies and implementation programmes must now be supported by records that can withstand regulatory scrutiny. This edition examines material...